FX.co ★ Actual patterns. Technical analysis and trading recommendations

On the chart of AUDCHF M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.5258; the lower boundary 0.5245; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.5222 level.

The technical pattern called Head and Shoulders has appeared on the chart of AUDCHF M5. There are weighty reasons to suggest that the price will surpass the Neckline 0.5245/0.5246 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.5231.

According to the chart of M5, AUDCHF formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.5248, the lower border is 0.5241. The signal means that a long position should be opened above the upper border 0.5248 of the Bullish Rectangle.

According to the chart of M15, AUDCHF formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.5231, the lower border is 0.5223. The signal means that a short position should be opened after fixing a price below the lower border 0.5223 of the Bearish Rectangle.

The Triple Bottom pattern has been formed on AUDCHF M5. It has the following characteristics: resistance level 0.5238/0.5234; support level 0.5231/0.5231; the width is 7 points. In the event of a breakdown of the resistance level of 0.5238, the price is likely to continue an upward movement at least to 0.5245.